Freestone Grove Partners LP Takes $27.61 Million Position in ITT Inc. (NYSE:ITT)

Freestone Grove Partners LP bought a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 193,267 shares of the conglomerate's stock, valued at approximately $27,614,000. Freestone Grove Partners LP owned approximately 0.24% of ITT at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in ITT by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate's stock valued at $73,913,000 after buying an additional 3,424 shares during the last quarter. Venturi Wealth Management LLC grew its position in ITT by 880.0% in the fourth quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate's stock valued at $308,000 after purchasing an additional 1,936 shares in the last quarter. AlphaQuest LLC increased its stake in ITT by 422.7% in the 4th quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate's stock valued at $601,000 after buying an additional 3,403 shares during the last quarter. ING Groep NV acquired a new position in shares of ITT during the 4th quarter worth approximately $1,214,000. Finally, Intech Investment Management LLC raised its position in ITT by 218.0% during the fourth quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate's stock worth $2,008,000 after acquiring an additional 9,633 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Trading Down 0.6 %

Shares of ITT stock traded down $0.79 on Tuesday, hitting $142.50. The stock had a trading volume of 214,368 shares, compared to its average volume of 584,318. The stock has a 50 day moving average of $131.75 and a 200 day moving average of $142.54. The firm has a market capitalization of $11.54 billion, a P/E ratio of 22.62, a PEG ratio of 1.89 and a beta of 1.36. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping the consensus estimate of $1.44 by $0.01. The firm had revenue of $913.00 million for the quarter, compared to the consensus estimate of $901.22 million. ITT had a return on equity of 18.03% and a net margin of 14.27%. The business's quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 EPS. Sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Monday, June 2nd. ITT's dividend payout ratio (DPR) is 22.26%.

Analysts Set New Price Targets

Several research firms have issued reports on ITT. KeyCorp upped their price objective on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday. UBS Group lifted their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. StockNews.com cut shares of ITT from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Stifel Nicolaus increased their price target on shares of ITT from $148.00 to $161.00 and gave the company a "buy" rating in a report on Friday. Finally, Citigroup reduced their price objective on ITT from $181.00 to $150.00 and set a "buy" rating for the company in a report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $161.86.

ITT Company Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.